REG - OnTheMarket plc - Update on previously awarded options

OnTheMarketAnnouncement

20/10/2023 17:45

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RNS Number : 8708Q  OnTheMarket plc  20 October 2023

 

20 October 2023

OnTheMarket plc

(the "Company")

Update on previously awarded options

On 21 July 2023, in an announcement titled "Grant of Options" (the "Previous
Announcement"), the Company announced  the grant of the options over an
aggregate of 249,630 ordinary shares of £0.002 in the Company pursuant to the
Company's Deferred Bonus Plan 2019 (the "Grant of Options").

Since this time the board of directors (the "Board") have become aware that
certain actions that were required to effect the Grant of Options (namely the
execution of a deed of grant ("Deed of Grant")) had not been undertaken.

The Company announces that the Board has today executed the Deed of Grant
required to effect the Grant of Options.

 

It is noted that no further grant of options over ordinary shares of £0.002
in the Company has been undertaken and only remedial actions required to
effect the Grant of Options described in the Previous Announcement have been
taken.

 

The notifications set out below are provided in accordance with the
requirements of the EU Market Abuse Regulation as part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 and set out more details of
the transactions.

 1.   Details of PDMR
 (a)  Name                                     1.            Jason Tebb

                                               2.            Helen Whiteley

                                               3.            Morgan Ross

 2.   Reason for notification
 (b)  Position / status                        1.            Chief Executive Officer

                                               2.            Chief Commercial Officer

                                               3.            Product and Technology Director

 (c)  Initial notification / amendment         Initial notification in each case
 3.   Details of the Issuer
 (a)  Name                                     OnTheMarket plc
 (b)  LEI                                      213800UNVSN2LXD4W113

 4.   Details of the transaction(s): section to be repeated for (i) each type of
      instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transaction(s) have been conducted
 (a)  Description of the financial instrument  Ordinary shares of 0.2p each in the capital of the Company ("Shares")
 (b)  Nature of the transaction                Grant of options under the Deferred Benefit and the Long Term Incentive Plan
 (c)  Price(s) and volume                      Option price nil, volume 249,630 options as follows:

                                               1. Chief Executive Officer 103,116

                                               2. Chief Commercial Officer 76,039

                                               3. Product and Technology Director 70,475

 (d)  Aggregated information                   N/A
 (e)  Date of the transaction                  20 October 2023
 (f)  Place of the transaction                 Outside a trading venue

 

For further information, please contact:

 

 OnTheMarket                                                      0207 353 4200

 Jason Tebb, Chief Executive Officer

 Tom Carter, Chief Financial Officer

 Teneo (Financial PR Adviser)                                     0207 353 4200

 Giles Kernick                                                    onthemarket@teneo.com (mailto:onthemarket@teneo.com)

 Barnaby Harrison

 Zeus (Nominated Adviser/Joint Broker)

 Jamie Peel, Martin Green, James Hornigold (Investment Banking)   0203 829 5000

 Benjamin Robertson (Corporate Broking)

 Shore Capital (Joint Broker)

 Daniel Bush, John More (Corporate Finance)

 Fiona Conroy (Corporate Broking)

                                                                  0207 408 4090

 

 

 

Background on OnTheMarket:

 

OnTheMarket plc, the majority agent-owned company which operates the
OnTheMarket.com  property portal, is a leading UK residential property portal
provider.

Its objective is to create value for shareholders and property advertiser
customers by delivering an agent-backed, technology enabled portal - offering
a first-class service to agents and new homes developers at sustainably fair
prices and becoming the go-to portal for serious property-seekers.

OnTheMarket provides a unique opportunity for agents to participate in the
equity value of their own portal. Agent backing and support enable OnTheMarket
to display 'Only With Us' properties which are either exclusive properties
advertised at OnTheMarket.com (https://www.onthemarket.com/) by customers who
do not list their properties with either Rightmove or Zoopla, or properties
listed 24 hours or more before agents release these properties to Rightmove or
Zoopla.

Further Information

Zeus Capital Limited ("Zeus"), which is authorised and regulated in the United
Kingdom by the FCA, is acting as nominated adviser and joint corporate broker
to OnTheMarket and no one else in connection with the matters referred to in
this announcement and will not regard any other person as its client in
relation to such matters and will not be responsible to anyone other than
OnTheMarket for providing the protections afforded to clients of Zeus, nor for
providing advice in relation to any matter referred to in this announcement.
Neither Zeus nor any of its affiliates owes or accepts any duty, liability or
responsibility whatsoever (whether direct or indirect, whether in contract, in
tort, under statute or otherwise) to any person who is not a client of Zeus in
connection with the matters referred to in this announcement, any statement
contained herein or otherwise.

Shore Capital and Corporate Limited and Shore Capital Stockbrokers Limited
(together or individually, "Shore Capital"), which are authorised and
regulated in the United Kingdom by the FCA, are acting as joint corporate
broker to OnTheMarket and no one else in connection with the matters referred
to in this announcement and will not regard any other person as their client
in relation to such matters and will not be responsible to anyone other than
OnTheMarket for providing the protections afforded to clients of Shore
Capital, nor for providing advice in relation to any matter referred to in
this announcement. Neither Shore Capital nor any of their affiliates owes or
accepts any duty, liability or responsibility whatsoever (whether direct or
indirect, whether in contract, in tort, under statute or otherwise) to any
person who is not a client of Shore Capital in connection with the matters
referred to in this announcement, any statement contained herein or otherwise.

 

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